[johnforbes]

We are adrift in a fog of uncertainty, on an ocean of debt, led by a new administration promising higher taxes, challenged by a confident and aggressive China, protected by a woke military leadership promoting pregnant fighter pilots, but suspicious of lower ranks for "deplorable attitudes".

We are force-fed liquidity & Stimmy Cash like ducks for foi gras. And this great rooting out of imagined institutional racism (after 50 years of Affirmative Action) as a virtue signaling national fetish for elites?

What exactly could trigger a market collapse? Just one more new damn thing. Merely ONE added fresh hell or another.

Covid II? Power grid collapse. The 10-year drifts above 2%. A five-hour internet hack creates panic. Earnings disappoint -- or the opposite: earnings inflate and the Fed is forced shifting gears to slow down inflation. China crushes Taiwan ( or Putin starts elbowing Estonia, etc). Our response is feckless -- and our allies accommodate themselves with the winners, the new global hegemons. The dollar is threatened as premier world currency.

[Clownkicker]

We are adrift in a fog of uncertainty, on an ocean of debt, a good part of which was caused by ill-advised tax cuts in one of the most prosperous times in half a century instead of paying down that debt as virtually all economists advise in good times, while at the same time increasing dangerous wealth disparities in this country. We are challenged by a confident and aggressive China, that was raised up by Republicans systematically abandoning our world partnerships and financial aid to foreign countries, which vacuum of relationships and aid were replaced by a willing China, coinciding with a loss of confidence in U.S. will to back up allies. We are protected by a military leadership that has allowed an influx of "deplorable attitudes" among the rank and file that then go on to foment insurrection when released from the military.

We are forced to resort to "quantitative easing" to prevent collapse brought on by under-regulated banking and shady investment products as well as natural disasters such as the pandemic that didn't have to be this bad if sound medical practices had been observed instead of constantly being undermined by many of our leaders. And the entrenched refusal to address the quite real systemic racism in our justice system, education, housing, and employment has our chickens coming home to roost as reactionary conservatives continue to live in denial.

What exactly could trigger a market collapse? Just one more new damn thing. Merely ONE added fresh hell or another, such as Trump running for President again, threatening a repeat of the most divisive presidency, worrisome rise of nationalism, and the partisanly intentional loss of trust in our democratic system, leading to our greatest Constitutional crisis in over 150 years. Or perhaps the accelerating occurrences of mass shootings exacerbated by an insane refusal to legislate reasonable gun control measures.

What exactly could trigger a rebirth of this country's preeminence? A large investment in our crumbling infrastructure, 'green' jobs, reduced reliance on Chinese manufacturing for essential commodities and technologies by investing in them at home, an expansion of financial and medical aid to the developing world to counteract the rising China threat, a reduced reliance on fossil fuels, an end to the irrational denial of climate change and the commensurate investment in renewable energy, and addressing the immigration problem, making sure we are the country reaping the historical benefits of welcoming the minds and labor of courageous people seeking a better life.

It can be done if those futilely fighting unstoppable and inevitable change will get out of the way and stop intentionally dividing us against each other.

[johnforbes]

Clown, you were wrong about that tax cut, and the proof was in the fact that Trump lowered unemployment for women, blacks, and hispanics to historic lows.

I was always a JFK Democrat on this issue, and his notion (and the economists advising him) that you lower taxes to foment growth, so you get a larger slice (id est, tax revenues) of the larger economic pie.

In a simplistic way, Biden is saying with Clown that we need more tax revenue.

So Biden and Clown are taking the short-term approach of saying "Let's raise taxes to get that."

But that is shortsighted, and that is why Democrat control of any city or country ends up the same way over time, with stagnant growth and high taxes and not enough tax revenue, so they raise taxes more and the productive people leave as they are now leaving California.

Modern Democrats are arguing against JFK (and later Reagan) on this, and they are wrong.

[elklindo69]

Increasing tax rates are the easiest way to generate revenue.

Have you heard about anybody becoming wealthy by cutting expenses? No you haven't. If you need more money then you need to be generating more income.

Now if Trump had come out early in favor of masks in the beginning, his supporters would've proclaimed that wearing them was your patriotic duty, there would've been fewer deaths, and we wouldn't be entering the fourth wave of COVID-19. And there would be no need for the 1.9 Trillion dollar COVID-19 relief plan that republicans objected to.

[johnforbes]

Sure, raising tax rates will generate revenue in the near term, but weakens the economy and society.

Democrats since JFK have not had his understanding of the economy.

[elklindo69]

No it doesn't.

Tax rates have been much higher historically in the past for decades and the economy did just fine.

[johnforbes]

But more than those factors is involved here.

About a third of the money printed stemmed from covid relief, and there are early signs of inflation in lumber, food, clothing, etc

[sillydaddy]

Tax rates have been much higher historically in the past for decades and the economy did just fine

Then why do the Democrats laugh at and mock anyone who talks about the "good ol' days "..?

[johnforbes]

I began to be concerned about Clowntoker's posts about financial matters when I learned he was an advisor to Zimbabwe.